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प्रश्न
Monopolistic competition is the perfect blending of monopoly and perfect competition. Explain.
Monopolistic competition is a blend of perfect competition and monopoly. Discuss the statement by giving two reasons.
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उत्तर १
A monopolistically competitive market is a blend of both a perfectly competitive market and a monopoly market.
Features of Perfectly Competitive Market:
- Large number of firms.
- No barriers to entry or exit.
Features of Monopoly Market:
- Product differentiation refers to how each company creates a product that differs slightly from that of rivals.
- Close substitutes but no perfect substitutes.
उत्तर २
Monopolistic competition is considered a blend of perfect competition and monopoly because it shares characteristics of both market structures.
- Large Number of Sellers (Like Perfect Competition): In a market with many companies, no single company has control over the entire industry. This is close to perfect competition.
- Product Differentiation (Like Monopoly): Each firm offers a differentiated product through branding, quality, or features, allowing them to have some monopoly power in pricing.
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संबंधित प्रश्न
Discuss any two features of a monopolistically competitive market.
Which two forms of market earn normal profit in the long run?
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
Non-price competition is ______.
The image above shows a departmental store of a market structure.
- Identify the form of market as observed from the above image.
- Discuss the features of this market form with respect to:
- Type of product
- Entry and exit of firms
- Selling cost
How is Perfect competitive market is different from a monopoly market?
'A few big sellers' is a characteristic of ______.
Marginal revenue of a firm is constant throughout under:
A monopolist is price maker:
"The price of a product under perfect competition is determined by an individual seller."
Observe the relationship of the first pair of words and complete the second pair.
Single seller in the market : Monopoly
Single buyer in the market : ______
Which of these feature's is found in both a perfectly competitive market and a monopolistically competitive market?
Identify the market form for seller A on the basis of the following information:
| Units of output sold | Price offered by seller A in ₹ |
| 30 | 10 |
| 40 | 10 |
| 50 | 10 |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Mention two features of monopoly.
Define monopolistic competition.
Define oligopoly.
Give two characteristics of perfect competition.
Highlight the importance of selling costs in a monopolistically compatible market.
Identify the market form for the following:
Perfectly elastic demand.
Identify the market form for the item given below:
Product differentiation
Name the market in which there is a single buyer and many sellers. Give an example.
Give an example of monopoly.
Explain any four features of perfect competition.
Discuss any four differences between monopoly and monopolistic competition.
Which type of market structure is the following? Give reason.
Soft drinks
Product differentiation is practised in monopolistic competition? Give reasons.
With the help of an example explain the meaning of price discrimination.
Give two examples of a monopolistically competitive market.
What do you mean by homogeneous products?
What is meant by the term ‘price taker’?
Which market form has the least number of producers?
Name the market which has characteristics both of monopoly and perfect competition.
Elaborate the price discrimination feature of monopoly.
Identify the market form from the following.
Firm is a price maker.
Name the characteristic which makes monopolistic competition different from perfect competition.
Why an individual firm under perfect competition cannot influence the market price?
